Not every company may need a full-time CFO, but every business needs financial and operational expertise.
What does a Chief Finance Officer do?
A Chief Financial Officer (CFO) is one of the crucial resources that every competitive firm needs in order to reach the next level in its development. The multi-faceted, well-experienced and highly competent finance and accounting head is responsible for among other things:
- Building sustainable corporate finance and accounting operations
- Identifying and securing capital needs
- Coaching executive performance for defined targets and metrics
- Communication with the Board of Directors and financial reporting to key stakeholders
- Contributing to the development and execution of long-term strategy
- Identifying, diagnosing, and integrating mergers and acquisitions
- Ensuring technology advancement and utilization
- Facilitating audit and compensations committees needs
- Guiding continual enterprise risk management
- Overseeing international governance and expansion
- Developing and implementing aligned executive compensation
A CFO will also oversee treasury and cash management, financial modeling, options and compensation plans, business performance and cash flow, partner/vendor management, Board of Directors management, investor communications, payroll, accounts payable and accounts receivable functions, and any activities tied to turnaround, restructurings and divestitures.
Whether you need strategic finance and accounting leadership, efficient cash and capital management, or guidance on an M&A or exit strategy, a Fractional CFO can provide the specialized expertise your organization requires.
Fractional CFO Services
A Fractional CFO first and foremost, needs to understand the workings of your company. They have to be in harmony with the company’s vision, mission, objectives, and long-term goals for there to be a productive business relationship.
With capital needs, strategic objectives and financial and performance metrics constantly changing, a fractional CFO needs a steady hand, sound experience while balancing an eye on the future.
An open and realistic mind is invaluable as well. It is important to find a balance between a business’ necessities and luxuries they can do without. Minimizing cost while maximizing profits is every business’ mantra.
With a business’ objectives as a guiding map, and personal experience, insight and relevant technology as a shining light, navigating through challenges becomes much easier and manageable. Here are four things to look for in a CFO:
While developing a rapport with the CEO and management team is a must, a good cultural fit with the rest of the team is important too. The CFO should have a “been there, done that” attitude, but also be creative and flexible enough to adapt to the team and its culture.
What to Expect from TechCXO Fractional Chief Financial Officer (CFO)
How much money do we have and how far will it take us? What’s plan B (and C and D) for raising cash? Debt, equity, equipment financing? These are questions that your CFO should be able to answer with precision, but to do so requires a good cash forecast that includes a realistic view of inflows, outflows and the likelihood of achieving milestones in a specified timeframe.
Impact
Raised Credibility
Increased credibility with Board, prospects, partners, investors and suppliers
Upgraded Management
An upgrade from general bookkeeping to a real finance and accounting department
Optimized Profits
Efficient capital, effective cash management, and improved working capital
Swift Execution
Improved negotiation of contracts and agreements, as well as improved audits
Our Team
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